Anticipating Ping-Pong between 4Hr support and the Daily established supply zone prior to a drop.
TP 1 at 4Hr Support
TP2 at 0.87 (Last consolidation zone)
TP3 at Daily support
Lets see what happens...
Cypher Pattern already completed, but i'm waiting for a better confirmation as a price touching the the Major Support at 38,2 fib Support or waiting that break the Wedge to the upper side.
Bullish Cypher Pattern already completed
Falling Wedge pattern on formation
38,2 Fib Major Support
Confluence of Fib Inversion and Fib Extension
NZDCAD has been stuck in this range since November of last year, the set up is very simple, like trading ranges are. Our Buy area is the green box of the bottom of the range, our stop loss is 30-50 pips below that to allow room for a fake out if one was to occur. I have a standard 3 positions per trade, so id be looking for TP1 = 30pips TP2=50pips and TP3= the top...
Got stopped out last Friday on this pair and it was quite frustrating as it showed so much potential.
However, a new week and a rejuvenated mind. I've spotted that the down move is still on, after seeing the daily TF.
Trade safe and good luck!
I smashed my 4Hr NZDCAD analysis which I published March 15th (Linked Below)
The accuracy is uncanny (¬‿¬)
This is (hopefully) the bigger picture;
Strong Trend: Lower Highs
Trendline Retest (20th March)
Looking for Candlestick confirmation on the 15m & 1Hr before placing Long position from Daily Trendline
For those who keep sending me direct messages, I...
> - I appreciate at first this looks overly colourful and somewhat convoluted, but look twice, its completely unproblematic. There's literally 3 or 4 things I've added to this chart.
> - Simplicity is key:
5 Touches on the bearish Trend line
Daily Support Zone plotted
4Hr Support Line plotted (incase of consolidation towards trend line)
Evidence of a gradual...
will be taking a risk entry as a flag pattern has formed. Stop loss will be 20 pips making a risk to reward 2.5:1. will be a short term trade. This trade lines up for the third touch of trend line as well as a triple top. So alternatively when target is achieved will be looking for sell set ups. Any alternative views please feel free to share.
I've been glued to the GBP pairs this week with so much potential in them and catching a crazy amount of pips!
However, my premium group just took a short trade on this pair as a bearish pattern has been formed.
Trade safe and good luck!
I'm new to Trading, having only being a TradingView member for a few days so please be mindful when giving criticism & feedback.
In this optimistic analysis I was thinking of a long-term LONG on NZDCAD. Having the 1Hr Resistance Line invalidated by the Bullish Spike @ March 12th, I believe the price action to retrace to the drawn trend line.
I believe it will...